Dubai, UAE - National Bank of Dubai announced today the successful launch of its M/Chip and Visa Smart Debit and Credit (VSDC) acquiring processing facility with the help of Card Tech Limited (CTL), a leading cards and payments provider. This successful implementation, not only secures NBD's leading status as one of the first M/Chip acquirers in the Gulf, but also marks CTL's first M/Chip implementation in the region.
NBD, one of the leading banks in the UAE, is the first among many banks to complete the Europay Mastercard and Visa (EMV) certification process for Visa and MasterCard. Since completing the process, the bank can move forward and process live M/Chip transactions using CTL's ONLINE - the world's first complete real-time authorization and message switching system.
Sue Evans, Head of Information Systems & Technology at NBD, said "We are pleased to be one of the first card acquirers in the Gulf to have successfully implemented MasterCard Chip acquiring services, and this is largely due to the substantial support we have received from Card Tech Limited."
CTL and NBD's relationship dates back to the early 1990s. The bank uses CTL solutions to support its cards business. Over the years, CTL's solutions have evolved to support all current and emerging industry standards, and NBD's migration to EMV compliancy posed no obstacle.
Edith Kessler-Charalambous, General Manager-Business Account Management at CTL, said "We are delighted to support NBD's implementation of M/Chip Acquiring services, helping it to achieve success as one of the first banks in the Gulf to be M/Chip compliant. CTL benefits from a history of delivering projects within deadlines and we were happy to assist NBD meet theirs."
Abdulfattah Sharaf, Head - Cards Business at NBD, stated 'NBD continues to prove its position as an innovative player in the UAE Market'. He added 'This achievement demonstrates our commitment to our customers to provide a comprehensive product suite based on the latest technologies, and supports NBD's business objectives to provide added value and a world class service to all its clients.'
NBD's latest accomplishment is one in a series which supports its reputation as a market leader for acquiring card business in the UAE. Previous successes include: winning the MasterCard Data Integrity Award - for demonstrating a high level of data integrity in an international market, and being voted Best Bank in the UAE by Global Finance Magazine for three consecutive years.
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About the National Bank of Dubai
Founded in 1963, the National Bank of Dubai is the oldest, locally incorporated bank in the Southern Gulf. Recognized as the bank with a performance that is second-to-none, NBD has built a reputation of stability and strength much appreciated by shareholders and customers alike.
Offering diversified financial services, NBD is a leader in corporate banking. Its portfolio covers a wide range of services including transport, real estate, construction, manufacturing, tourism and service industries throughout the region. In addition, NBD's 'Private Office' provides private banking services, offering highly tailored solutions to preserve and protect the personal wealth of its customers. Along with supplying customers with a variety of exclusive service based products, secured facilities, Credit Cards, personal loans, , auto loans and home loans, the National Bank of Dubai also offers a variety of treasury products and services, advising customers on exchange markets and interest rate outlook.
NBD, also recently launched Suhail Priority Banking Services, a premier banking service offering customers personalized relationship management and a host of exclusive products and services. Furthermore, NBD presents their customers with automated banking services, which consist of an internet service (NBD Online), a telebanking facility (NBD Telebank), and an SMS based service (NBD Mobile). With a comprehensive card portfolio that provides an array of benefits, the National Bank of Dubai has, over the years, built a wide ATM network as well as Point of Sale terminals in select locations throughout the UAE.
The National Bank of Dubai currently has an extensive branch network that includes 40 branches throughout the UAE. In addition, NBD also has a branch in London and a representative office in Tehran.
About Card Tech Limited
Card Tech Limited has been providing payment association certified solutions to the bankcard sector since 1989. More than 170 banking clients from 70 countries use CTL systems. CTL solutions include card issuance, merchant acquiring, authorisation, message switching, encryption key and PIN management, e-commerce and fraud management. Addressing every aspect of the card management business cycle, they are developed and supported by a dedicated team of over 270 CTL specialists in five regional offices amongst them the office at DIC.
For more information please contact:
Maya Nasser
Team Assistant
Gulf Hill & Knowlton P O Box 50653 Dubai United Arab Emirates
Tel: 971 4 3344930
Ext: 27
Fax: 971 4 3344923
E-mail: maya.nasser@hillandknowlton.com
© Press Release 2005
